Australia is facing its worst rental affordability crisis in 17 years, with soaring rent prices outpacing income growth, affecting millions.
The latest PropTrack Rental Affordability report finds households on the median income of $110,000 per year could only afford 39 per cent of available properties to rent. The latest PropTrack Rental Affordability report finds households on the median income of $110,000 per year could only afford 39 per cent of available properties to rent.
Households earning the median income of roughly $111,000 can afford to rent the smallest share of properties since 2008. Mr Moore says there is a critical need for rental support, such as Commonwealth Rent Assistance, to make renting viable for low-income earners.
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